David S. Hong is a corporate lawyer who focuses his practice on the formation and ongoing operation of private equity, hedge and hybrid funds, as well as advising private fund sponsors.
Mr. Hong regularly represents emerging and institutional private fund sponsors in connection with a broad range of matters, including fund formations, fund investment matters, seed capital arrangements, complex restructurings, the structure of their investment management businesses and regulatory, compliance and operational issues. Mr. Hong provides each client with comprehensive representation covering entity formations, the fundraising process and ongoing operational advice.
In addition, Mr. Hong also represents institutional investors, including sovereign wealth funds, public and private pension plans, family offices and endowments, in connection with their investments in, and co-investments alongside, various private equity, hedge and hybrid funds.
Mr. Hong’s recent matters include representing:
- Numerous emerging and institutional sponsors in the formations of private equity, hedge and hybrid funds;
- Private fund sponsors and seed investors in a variety of seed capital arrangements;
- Private fund sponsors regarding compensation arrangements among principals and employees;
- Institutional asset manager in connection with the formations of private fund complexes ranging between $1 billion and $2 billion pursuing credit, energy and real estate-based strategies;
- Emerging private equity fund sponsor in connection with the closing of its first middle-market buyout fund;
- An institutional hedge fund manager in connection with a complex restructuring of its business involving the secondary sales of certain fund interests via modified Dutch auctions and the spin-offs of certain side pocket investments as separate closed-end funds;
- An institutional asset manager regarding the establishment of a multi-manager hedge fund platform which involved the formation of a $1 billion multi-strategy fund;
- An activist hedge fund manager in connection with a sale of a minority stake in its advisory business to a private equity fund buyer;
- An emerging hedge fund manager in connection with a fund of one formed for a public pension plan to pursue a quantitative-based tail risk protection strategy;
- An emerging activist hedge fund manager in connection with a co-investment vehicle raised for a prominent family office investor;
- An institutional asset manager in connection with the launch of an open-end real estate debt fund; and
- Numerous sovereign wealth funds, public and private pension plans, family offices and endowments in connection with investments in, and co-investments alongside, various private funds.